Scissortail Wealth Management LLC Buys 3,152 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Scissortail Wealth Management LLC lifted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 105,066.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,155 shares of the home improvement retailer’s stock after acquiring an additional 3,152 shares during the quarter. Scissortail Wealth Management LLC’s holdings in Lowe’s Companies were worth $779,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Assenagon Asset Management S.A. lifted its position in Lowe’s Companies by 141.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 64,409 shares of the home improvement retailer’s stock worth $15,896,000 after buying an additional 37,692 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Lowe’s Companies by 21.5% during the fourth quarter. Park Avenue Securities LLC now owns 12,409 shares of the home improvement retailer’s stock worth $3,062,000 after acquiring an additional 2,196 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Lowe’s Companies by 4.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,339 shares of the home improvement retailer’s stock worth $1,071,000 after acquiring an additional 167 shares during the last quarter. Empirical Asset Management LLC boosted its stake in shares of Lowe’s Companies by 4,444.5% in the 4th quarter. Empirical Asset Management LLC now owns 104,614 shares of the home improvement retailer’s stock valued at $25,819,000 after purchasing an additional 102,312 shares in the last quarter. Finally, First Pacific Financial grew its holdings in shares of Lowe’s Companies by 952.4% during the 4th quarter. First Pacific Financial now owns 1,105 shares of the home improvement retailer’s stock valued at $273,000 after purchasing an additional 1,000 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on LOW shares. BNP Paribas raised shares of Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Truist Financial decreased their price objective on Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada lowered their target price on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. DA Davidson restated a “neutral” rating and set a $270.00 price target on shares of Lowe’s Companies in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. decreased their price target on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.00.

Lowe’s Companies Trading Up 0.8%

Shares of NYSE LOW opened at $234.20 on Friday. The firm has a fifty day simple moving average of $224.34 and a two-hundred day simple moving average of $245.93. Lowe’s Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01. The firm has a market capitalization of $131.09 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company had revenue of $18.55 billion for the quarter, compared to analysts’ expectations of $18.29 billion. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio is currently 37.67%.

About Lowe’s Companies

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.